YCCAC can help you make 'CA$H'

fosters.com

Writer

Posted Jan. 24, 2013 at 3:15 AM

Posted Jan. 24, 2013 at 3:15 AM

SANFORD — You could be eligible to receive as much as $5,891 back from the IRS.

If you earned at least $1 and less than $50,000 from wages, self-employment, or farming in 2012, you may qualify for a refundable tax credit called the Earned Income Tax Credit, or EITC — but you must file a federal income tax return claiming the credit to get it.

Since 2002, York County CA$H — Creating Assets, Savings & Hope — at York County Community Action (YCCAC) has helped almost 2,300 York County residents collect $5.5 million in federal and state tax refunds at FREE IRS-sponsored VITA (Volunteer Income Tax Assistance) sites throughout York County. Nearly $2.7 million of that refund was in EITC alone. In fact, YC CA$H has the distinction of serving one of the highest rates of EITC-eligible filers (65-percent last year) of the hundreds of VITA programs nationwide.

The EITC has been making the lives of workers a little easier for more than 37 years. Yet it remains little known, possibly because people move into and out of eligibility as their financial, marital, and parental statuses change. IRS estimates four of five eligible workers claim their EITC. That means that up to 20 percent are missing out. According to the IRS, rural and non-traditional families, such as grandparents raising grandchildren, childless workers and non-English speaking taxpayers are among those who most frequently overlook the credit.

EITC can be a boost for working people, their families, and communities. Workers who experienced a drop in their earnings in 2012 may qualify for the first time. Even if not required to file a tax return because of low earnings, those who worked even a part time or temp job for just a couple of weeks in 2012 should check to see if they are eligible for EITC.

“We have seen refunds of more than $800 for folks who had as little as $2,000 in earnings,” explained Rhoda Butler, the York County CA$H coordinator. “We can also file tax returns covering tax years ’09 to ’11, so those who have missed out may still collect. Many of our filers have used their substantial refunds to reduce debt, increase savings and even buy a home. It’s very exciting to see the impact of this.”

“CA$H Coaches” are available to inform filers about smart ways to grow their refunds, with opportunities like split-refund options, matched savings accounts, education and career information, money-management and credit skill-building, resources for business start-up and much more!

To make an appointment for this valuable service that could save hundreds of dollars in tax preparation fees, York County residents can call the CA$H Tax Prep Line at 324-5762, ext. 2718, or call toll-free in Maine at 1-800-965-5762, ext. 2718. The program’s eligibility specialist will screen filers for appointments in Sanford or Biddeford.

York County residents may be eligible for free tax preparation at YC CA$H if they qualify for the EITC or participate in any YCCAC income-based programs. Other filers can call 2-1-1 in Maine to locate an AARP Tax-Aide site near them.

YC CA$H is one of eleven members of CA$H Maine, a statewide coalition that provides opportunities for hardworking Mainers from York to Aroostook county to build assets and get ahead. CA$H Maine and its members are sponsored by an IRS VITA Grant, The Annie E. Casey Foundation/Casey Family Services and KeyBank.

York County CA$H is a program of York County Community Action Corporation, whose mission is to alleviate the effects of poverty, attack its underlying causes and to promote the dignity and self sufficiency of the people of York County.